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The Review

Introducing DMZ’s 14 new Experts-in-Residence

Growth

Category Archives: Growth

Introducing DMZ’s 14 new Experts-in-Residence

In the heart of every startup’s journey at DMZ lies a secret weapon: our Experts-in-Residence (EiRs).

EiRs are more than just advisors; they act as an extension to our startup teams, working shoulder-to-shoulder with our founders to guide them through the intricacies of scaling their businesses. As experts in their field, they are each handpicked for their comprehensive knowledge and extensive business backgrounds.

We’re thrilled to announce the addition of 14 new EiRs to our esteemed roster. Each brings with them deep industry insights and a rich entrepreneurial background, further enriching our ecosystem and enhancing the support available to our startups.


Meet DMZ’s newest EiRs:

Check out the full roster of DMZ EiRs here.

Introducing Mentors

Recognizing that our EiRs provide essential strategic and long-term advice, we’ve seen the need for additional hands-on, tactical guidance to address the multifaceted needs of our startups.

This led us to introduce Mentors, volunteer-based positions, aimed at filling the gaps in our advisory services with their practical, “how-to” expertise, thereby ensuring a broader and more dynamic support system for our founders. 

This addition not only enriches our advisory capacity but also provides a flexible pathway for engaging with a diverse array of industry experts eager to guide founders.


Meet DMZ’s newest Mentors:


Levelling up through leadership

As we evolve our mentorship program, we’re also evolving our leadership structure to further this vision. Alex Thibault has excitingly stepped into the position of Chief EiR, steering our strategic direction in mentorship and founder support.

“We need more tech companies that will grow and become the titans of tomorrow. I want to help entrepreneurs as they try to become those titans.”- Alex Thibault, Chief EiR


Alex brings a wealth of experience in tech, capital markets, mobility, and more, offering crucial insights and expertise in M&A, operations, and finance. His success as a tech entrepreneur and investor, with ventures in fast-growing tech companies, supports DMZ’s mission to build the next generation of leading tech startups.
In the Chief EiR role, Alex will focus on enhancing our advisory strategy, nurturing the growth of our EiRs and Mentors, and fostering a culture of collaboration among advisors to increase our impact.

With these new additions and enhancements to our support network, we’re excited about the potential our revamped startup advisory framework holds in providing unparalleled support to our startups. 

Ready to scale your startup at DMZ and connect with our industry-leading experts? Apply for our Incubator today.

 

A year of growth: inside Chexy’s impact on rental payments

How a DMZ startup processed $30 million in rent and helped users earn $1 million in cashback and rewards. 


Rent is easily one of the heftiest expenses we all endure. Month after month, an eye-watering sum is removed from our bank accounts. 

In the past year, Canada has seen rent jump 10.5% on average, and Canada’s housing affordability crisis has left renters with no choice but to swallow costs. 

Canada is becoming a nation of renters, and Co-founder and CEO of DMZ startup Chexy, Liza Akhvledziani, decided to take matters into her own hands by giving Canadians something to show for their largest monthly expense.

“I had been a renter in Canada for way too long and was fed up with landlords asking for cheques and not being able to benefit from paying my largest expense on time every month,” said Liza Akhvledziani Co-Founder and CEO of Chexy. “So I thought, what the hell. If nobody else wants to try this — I will.” 

The first tenant-facing payments platform that allows renters to earn rewards and build credit on rent, Chexy has empowered Canadians to no longer look at rent as just another budget line but an opportunity to earn rewards and cashback.

And spoiler alert, people are loving it. In their first year, Chexy processed an outstanding $30 million in rent, and users earned an estimated $1 million in cashback and rewards.

Getting to where they are today hasn’t been a total walk in the park, Akhvledziani explains. “We’ve had our fair share of “oh shit” moments like any startup, but it’s incredible to see the true value we are delivering to our users,” said Akhvledziani. 

By empowering renters to pay via credit card, Chexy users can unlock credit card loyalty points, cashback and rewards faster. But don’t just take our word for it; here’s what a few Chexy users had to say. 

Chexy user Samir Patel has earned $600 in cashback in just five months by paying rent on the platform.

“Using Chexy has given me the financial freedom to buy extra things or cover my rent partially for a month.”

 

Since joining Chexy, Brayden Dobson has earned enough points to cover most of his vacations in Mexico, Spain, and Vancouver.

“I am saving 90% off the cost of flights compared to if I paid cash.”

 

After landing in Canada 5 years ago, Andrew Royal struggled to pay rent via e-transfers due to the maximum daily limits on his account. With Chexy, Andrew doesn’t stress about transfers and is racking up points for an upcoming trip.

“Being able to use my credit card has been a game changer. For the past year, I have been able to make payments on time, every month and get rewards — just for paying my rent.”

 

Chexy stayed true to its mission: to make rent payments easier and more rewarding for everyone involved. They saw how outdated rent payments were and decided to do something about it.

Looking ahead, Chexy plans to expand its offerings to offer rewards for additional household expenses and, eventually, empower tenants to become homeowners. “Rent is just the beginning; we plan to help users earn rewards on expenses like utilities, tenant insurance and wifi. But, beyond that, another major goal at Chexy is to help our tenants become homeowners with fewer hurdles at a better rate,” said Akhvledziani. 

With big plans for the future, Chexy is proving that startups can change the game, one rent check at a time.

For those eager to maximize rewards on their largest monthly expense, Chexy is awarding a sign-up bonus of up to $500 CAD that new users can put towards their first month of rent paid on the platform.


Those who are new to Chexy and sign up for an account between March 18 and March 31 will qualify to receive the bonus. Sign up at Chexy.co.

Paving a new era for startup legal support: DMZ’s IP Clinic unveiled

Coming from a tech startup incubator, we get it — the entrepreneurial journey is a rollercoaster ride, and legal potholes can be deal-breakers. That’s why DMZ’s Startup Legal Support (SLS) team and Toronto Metropolitan University’s Lincoln Alexander School of Law have worked together to launch a new Intellectual Property (IP) Clinic, a game-changer in the dynamic world of startup legal support.

As a company grows, so do the legal challenges.

Despite the fact that 70% of businesses earn enough revenue to surpass eligibility for free legal aid, most still grapple with affording the substantial costs of hiring a lawyer. DMZ emerges as a pivotal solution for these startups, acting as their legal compass. In doing so, DMZ not only helps startups maintain their competitiveness but also contributes to making legal services more accessible.

Through the generous support of Innovation, Science and Economic Development Canada (ISED), Lincoln Alexander School of Law and DMZ have collaborated to introduce the IP Clinic, a new initiative aimed at providing startups supported by Toronto Metropolitan University (TMU) with comprehensive legal services. Nicholas Hill, Head of Startup Legal Support and Legal Advisor, spearheads these services with the support of three TMU law students, Ikra Saeed, Isabella Spiliakos and Shany Raitsin, who work under his supervision.

Intellectual Property isn’t a luxury, but a strategic necessity for startups.

As a strong proponent of the DMZ’s IP Clinic, Dr. Sari Graben, Associate Dean Research and Graduate Studies, notes that the Clinic plays a vital role in advancing the competitiveness of Canada’s startup ecosystem. “Our grant and innovative idea to launch IP legal services for startups aligns seamlessly with Lincoln Alexander Law’s vision to enable lawyers to tackle novel challenges in an increasingly innovation-based economy.”

The IP Clinic will enhance the accessibility of legal resources and knowledge to over 500 entrepreneurs within Toronto Metropolitan University’s Zone Learning Network. To date, the Clinic has been instrumental in servicing over 70+ startups, producing over 200 deliverables. “This IP Clinic marks a crucial step forward in our mission to empower startups with the legal knowledge they need to thrive,” says Nicholas Hill. “We’re excited about the positive impact this will have on our entrepreneurial community.”

As DMZ’s SLS opens up this new avenue of legal support, we have seen just how coveted IP services really are. Moreover, the IP Clinic’s value doesn’t just stop at startups.

We’re exposing law students to real-life case studies.

Beyond providing startups with essential legal assistance, we’re helping students navigate the legal ins and outs of the startup world. These students don’t stand on the sidelines, they’re gaining first-hand exposure to complex legal documentation and practical experience from Intellectual Property assignments to brand protection.

To sum it up, introducing IP legal services like those provided by DMZ sparks groundbreaking transformation, propelling the overall growth and success of these innovative ventures, and elevating their competitiveness to compete on the world stage. The collaboration of legal experts, aspiring law professionals and startups creates a recipe for entrepreneurial success in Canada’s startup ecosystem.

To learn more about DMZ’s legal support for startups, visit dmz.to/SLS.

Year in Review: DMZ Wrapped 2023

The stats are in! Let’s take a look at our feats this past year.

This year truly soared to unprecedented heights, from supporting more than a hundred dynamic startups here at our HQ to helping international founders making groundbreaking strides in innovation and global expansion.

Raise a glass with us as we toast to the incredible accomplishments and milestones that defined our community’s success in 2023.


We’ve always been at the forefront of supporting startups, and this year was no exception. Throughout 2023, we proudly supported an array of startups spanning diverse industries. From PropTech, Automation SaaS, Supply Chain and Logistics to FinTech and Cybersecurity, we’ve had the privilege of nurturing the growth of businesses driving impact across many unique verticals.


Among many exciting announcements in 2023, we were proud to become UBI Global’s official research and selection partner this year and revealed the top-ranking incubators and accelerators worldwide on stage at the World Incubation Summit in Belgium.

Our year in review wouldn’t be complete without mentioning Collision 2023. Marking the start of Collision week, DMZ’s Insiders Event showcased top startup pitches and awarded $65,000 in funding to the winning founders.


The event included an esteemed audience of industry leaders and saw David Walmsley, Globe and Mail’s Editor-in-Chief, deliver a memorable keynote speech.

If you’ve been keeping up with us this year, you’ll know that DMZ marked 2023 as the year of the camel startup. DMZ’s prominent presence at Collision featured a 7-foot camel, a stage with partner and founder panels, global showcases, a “Shark Tank” style pitch competition and more, and prize giveaways over the three-day conference.


Our commitment to empowering international startups reached new horizons through global partnerships, such as DMZ’s collaboration with the Japan External Trade Organization’s (JETRO) Global Acceleration Hub, marking a significant milestone as its first Canadian partner.


This year fueled collaborations with both existing and new partners that packed a heavy punch for the startup innovation landscape. 2023 saw us join forces with 25 new partners and continue great work with existing partners, including Amex Canada, Scotiabank, Desjardins, and Groundbreak Ventures.


With over 860 student entrepreneurs supported and a whopping 1,294 individuals attending Masterclasses, we’ve unlocked a new level of potential for the next generation of tech pioneers.


Embracing diversity in our programs has always been a cornerstone of our efforts, and this year we’re proud to share that 20% of our Incubator companies were founded by Black entrepreneurs and 24% by women.


Hot off the press! DMZ and our startups were talked about… a lot.
Our startups shone brightly, garnering an astounding 35,400 media impressions over the year!


There was never a dull moment at DMZ’s bustling entrepreneurial hub. With 7,000+ visitors over the year, our team hosted 123 groups for tours and 127 events at our HQ in Toronto.

Coffees were flowing year-round, with 8,685 cups served this year, igniting our creative sparks while our startups and staff worked hard. But that’s not to say we didn’t also play hard – 1,926 ping pong matches were held in our games room.

Our staff also embarked on our own entrepreneurial endeavours this year, 3D printing a total of 1,129 camel structures.

What a year! 2023 was an opportunity for DMZ to recalibrate – to hone in on evolving our programs and operations – and we’ve made significant progress in this direction. Now, on the brink of our 14th birthday this upcoming year, there’s a whole lot more to look forward to. Stay tuned for another promising year ahead.

Want to play a role in contributing to DMZ’s 2024 stats and milestones? Discover DMZ and our programming here. Don’t forget to sign up for our newsletter to get the latest tech news, updates, and special offers.

From Toronto to the Indo-Pacific: DMZ’s global impact

With 40 economies, four billion people and a staggering $47.19 trillion in economic activity, the Indo-Pacific represents a new horizon of opportunity for the world.

You have probably heard a ton about the Indo-Pacific region recently, but if you’re not clear on exactly what’s going on, you’re not alone. So, we thought we’d break it down.

In Canada, the Indo-Pacific Strategy is designed to increase collaboration, expand trade and investment opportunities and support immigration within the region. The Indo-Pacific is made up of 40 countries and is home to six of Canada’s top 13 trading partners. Given its economic potential and growth, it’s no surprise that Canada has been keen to engage with the region. And yes, you guessed it. Their startup ecosystems have seen a ton of momentum.

In line with Canada’s work to foster innovation globally, DMZ encourages its startups to explore new markets and supports global partners in crafting startup support programs.

We decided to sit down with our global offices from the Indo-Pacific to learn more about their markets and what teaming up with DMZ’s HQ has meant for them.

VIETNAM

Zone Startups Vietnam, a DMZ-powered accelerator in Ho Chi Minh City, provides hands-on strategic and tactical guidance to Vietnamese startups seeking market validation and customer acquisition.

“Vietnam offers a booming startup ecosystem for companies looking to expand. VC investments have been growing steadily thanks to government tax incentives that help attract foreign investors and companies. Today, the country anticipates VC funding to reach $5 billion by 2025,” said Quynh Vo, Program Director of Zone Startups Vietnam. 

Fintech, in particular, has seen a 248% increase in startup investment, with retail, health and education following close behind. Plus, their economy is projected to maintain a steady growth rate of 6.5% by the end of 2023. 

“DMZ provided us with the blueprint for startup success. By leveraging their tried and true playbook, we equip startups in the Vietnamese ecosystem with the tools to succeed. We take pride in the community we’ve built, and the startups have been able to support to date,” said Quynh Vo, Program Director of Zone Startups Vietnam.

JAPAN

DMZ is the official Canadian incubator partner for JETRO’s Global Acceleration Hub, catering to Japanese startups seeking expansion into Canada. DMZ supports Japanese startups entering the Canadian market through coaching, mentorship and matchmaking.

Japan offers a globally recognized economy and a corporate landscape eager to collaborate with and invest in startups. Japanese corporations often look to startup solutions to improve their business operations, providing a clear pathway to success for Canadian startups looking to expand.

“DMZ and JETRO’s collaboration has served as a conduit for Canadian and Japanese startups looking to expand, providing international opportunities for Japanese-led startups to be immersed in Canada’s tech ecosystem,” said Saito Takeshi, Executive Director of JETRO Toronto.

When it comes to the most promising opportunities for Canadian startups, the country is hyper-focused on increasing digitization, improving operational efficiencies, reaching Japan’s net-zero targets and supporting Japan’s aging population.

“The key is for Canadian startups to bring innovation that is not yet available in Japan but has been successfully validated in North America. There also needs to be an understanding that the technology or business model may need to be adapted for the Japanese market,” said Saito Takeshi, Executive Director of JETRO Toronto.

Powered by DMZ, Landing Pad Tokyo is a globally connected hub accelerating the capabilities of Japan’s top innovators and helping companies lead digital transformation in the manufacturing sector.

Japan has a long history of investing in the Indo-Pacific. In fact, Japan set a precedent for engaging with the Indo-Pacific, establishing one of the first strategies geared toward the region called the ‘Free and Open Indo-Pacific.’

“Working with DMZ has been a driving force for Japanese SMEs. High school students in Japan have been able to participate in their student entrepreneur program, Basecamp, inspiring them to dream big. Their dedicated team with diverse backgrounds broadened our perspectives, unearthed forgotten Japanese values and added immeasurable value to our partnership,” said Chieko Bond, Director of Business Development and Canadian Operations of Landing Pad Tokyo.

PHILIPPINES

StartUp Village and DMZ work together to nurture innovation between Canada and the Philippines, empowering entrepreneurs from both countries to thrive and make meaningful contributions to the global startup landscape.

“Aside from its strategic location, the Philippines offers a lot for startups looking to expand into the Indo-Pacific, thanks to its young and tech-savvy population. With its average age sitting at 25.8 and being the social media capital of the world, startups don’t only have a solid potential user base but a robust workforce,” said Carlo Calimon, President and Co-Founder of StartUp Village.

“The partnership between DMZ and StartUp Village aims to bridge the gap between our two regions, creating a gateway that will help open markets, create an exchange of knowledge and expertise and ultimately create shared successes for both organizations and countries,” said Carlo Calimon, President and Co-Founder of StartUp Village.


SINGAPORE 

The National University of Singapore (NUS) and the NUS Overseas Colleges (NOC) program provides aspiring student entrepreneurs with an opportunity to spend 12 months in Toronto, working full-time with a DMZ startup.

“Students get to take on roles ranging from software development and data analytics to marketing and business expansion. By working with DMZ startups, students experience startup culture firsthand and learn from founders directly, inspiring them to create their own companies one day,” said Harpreet Singh, Regional Director (Americas) at NUS Overseas Colleges and Associate Director of the National University of Singapore.

Having ranked 8th globally for its startup ecosystem, Singapore’s desirable and strategic location in Asia’s epicentre empowers enterprises to access the area’s most rapidly emerging markets, such as Indonesia, Thailand and Vietnam.

Singapore has gained a reputation for its free-market economy that promotes international trade, business regulations, and market competition. Similar to Canada, Singapore provides visa and economic incentives and support for foreign startups keen to set up a presence locally. 

For Canadian-led startups eyeing the market, Singapore shows high demand in cybersecurity, fintech, and AI, with plans to boost its agricultural sector.

By championing global collaboration, DMZ is fueling innovation ecosystems worldwide, helping more startups succeed internationally and building bridges to connect Canadian startups with the Indo-Pacific region and beyond. 

Learn more about DMZ’s global network and how you can gain a competitive advantage with DMZ in a rapidly changing market by heading to dmz.to/global. 

The power of local: How Innisfil is fuelling economic growth and retaining top talent

Innovation and entrepreneurship are not just buzzwords, they are the driving forces behind economic growth and opportunity. While big urban cities have been the traditional hotspot for startups to thrive, the notion of a startup hotbed being limited to bustling metropolitan centers is rapidly changing. Now, rural communities across Canada are demonstrating that they, too, have the potential to cultivate successful businesses and retain top talent.

Jelmer Stegink, Program Director of DMZ Innisfil, at DMZ Innisfil office.

Take Innisfil, Ontario, as the perfect example — a small town in Canada that faced the challenge of 82% of its residents leaving town for work every day. The town’s Mayor, Lynn Dollin, and her team recognized the need to create and support the jobs of tomorrow right in their own backyard. “Prior to the pandemic there was this misconception that founders needed to live and work in the GTA in order to tap into innovative resources, peers and programming,” says Mayor Lynn Dollin. “So in rural communities like ours, residents felt they had to spend hours in traffic to drive to a congested City to do their business.”

Enter Innisfil’s partnership with DMZ, the world’s leading startup incubator. Since its launch in 2020, DMZ Innisfil has successfully supported more than 35 local entrepreneurs to develop and grow their businesses, raising $10M in growth capital through DMZ programming and generating $1M+ in revenue.

But the real story here is how Innisfil has embraced entrepreneurship and innovation. By investing in programming to help business owners thrive, Innisfil has set a benchmark for how rural Canadian towns can encourage citizens to advance their local economy while creating the future they want in their hometown.

 “Through delivery of the DMZ Innisfil program over the past few years we’ve been able to demonstrate that innovation is a mindset, not a geography, and rural areas have just as much creativity and ambition as our urban counterparts,” says Dollin. “By bringing together like-minded entrepreneurs through DMZ Innisfil programming and events we’ve seen local founders flourish, enjoying better life work balance by the lake all while accessing world-class mentorship and support.”

The power of collaboration and support cannot be underestimated. One shining example of this synergy is the incredible success story of Fractional SaaS, a dynamic startup that found its footing with the invaluable assistance of DMZ Innisfil.

For founder Andrew Rains, the decision to move to Innisfil in 2018 was driven by a desire to seize emerging opportunities and raise a family. Little did he know that this small town was on the brink of an entrepreneurship revolution. 

When the pandemic struck, the Town of Innisfil faced a myriad of issues that demanded innovative solutions. DMZ, in partnership with the Town of Innisfil, launched a competition to address these challenges brought on by COVID restrictions. Fractional SaaS rose to the occasion by submitting a successful operations management solution in response to the Town’s call for better boat management at their marinas. This milestone became a turning point for Fractional SaaS., as it not only showcased their capabilities but also provided an opportunity to make a meaningful impact within the local community.

Fractional SaaS revolutionized marina operations in Innisfil, earning acclaim from the Town for their impactful solutions. They have expanded their services to other municipalities, positioning themselves as trusted partners for local governments. With DMZ Innisfil’s ongoing support, Fractional SaaS is poised for even greater accomplishments, connecting their team with the right people at the right time.

Fractional SaaS’s success story exemplifies the power of collaboration, with DMZ Innisfil playing a pivotal role in their journey as they continue to make a lasting impact, propelling innovation and community empowerment for different rural regions. 

 “Rural communities have become fertile ground for entrepreneurial growth. The notion that thriving innovation ecosystems are exclusive to major cities is now a thing of the past. Through my journey with Fractional SaaS, I’ve witnessed firsthand the hunger and the untapped potential in these communities. With the invaluable networks, resources, tools, and connections provided by DMZ Innisfil, startups are empowered to thrive and succeed!” –  Andrew Rains, Co-Founder of Fractional SaaS. 

Fractional SaaS is just one success story out of many. DMZ Innisfil is proud to welcome their most recent cohort of innovative businesses: What’s For Dinner Today, Behind Every Home Inc. o/a siikafoods, Directline Telecommunications, NewRidge Refinishing Group, Innisfil BJJ, MuniPaaS, NT Temps, Moon Cafe and Craft Beer, Roof Rejuvenation, Local Plumbing & Drains, Innisfil Wellness, and DriVR Academy.

Innisfil’s success shows that entrepreneurs no longer need to leave their hometowns to build successful businesses. Through their partnership with DMZ, they have developed tailored, localized entrepreneurship programming with a global mindset.

Check out just a few ways DMZ Innisfil is delivering big city resources to their town:  

  • Community: A vibrant community of like-minded entrepreneurs and business pros where you’ll feel right at home 
  • Mentorship: Expert guidance and support from Experts-in-Residence, an in-house legal team, and a network of peers who are driven to succeed
  • Fundraising: Connect with investors, unlock exclusive grants and get the chance to pitch at high-profile events like Collision.
  • International connections: Plug into DMZ’s global network of incubators in 10+ countries around the world for resources and introductions in new markets.  

Rural municipalities are often focused on building strong and vibrant communities that provide opportunities for growth and development while retaining the best and brightest talent. Recognizing this, DMZ champions municipalities by working with them to design tailored business support programming, empowering them to help their community capitalize on global resources while focusing on local economic growth.

The story of Innisfil’s success is a reminder that great ideas can come from anywhere and that the future of entrepreneurship is not limited to large urban centers. 

If you’re a municipal leader looking to empower your small business owners with the tools and connections to become world-class ventures while staying integrated within your local communities, DMZ is here to help. We’re committed to bringing innovation and entrepreneurship to all corners of Canada.

Applications for DMZ Innisfil’s Startup Incubator program close on July 21, 2023. Don’t wait – apply here. Interested in learning more? You can find out more about DMZ Innisfil here and more about the DMZ here.

 

2023 federal and provincial budget digests

In March, the federal and provincial governments unveiled their highly-anticipated budgets. With both plans moving from COVID-19-specific funding and focusing on lightening deficits and combatting inflation, we now have glimpse into what the road to a more robust economy looks like.

DMZ has reviewed the Ontario provincial and federal government budgets and identified key commitments that impact the startup and innovation economy.

Here’s what you need to know about both budgets:

Federal budget highlights

The full federal budget can be found here.

Small business support

  • Lowering credit card fees: The federal government has reached an agreement with Visa and MasterCard to reduce credit card fees by up to 27%.
    • This reduction will help small businesses save $1 billion over the next five years.

Innovation

  • Canada Growth Fund: The government intends to introduce legislation to enable the Public Sector Pension Investment Board to manage the assets of the Canada Growth Fund to deliver on the Growth Fund’s mandate of attracting private capital to invest in Canada’s clean economy.
  • Supporting Canada’s leadership in space: The government invested just under $2.8 billion to get Canadians — and Canadian technology — into space, onto the moon and beyond.
  • Canada Innovation Corporation: The government invested $2.6 billion for the new Canada Innovation Corporation, which will support Canadian businesses in investing in research and development.
  • Scientific Research and Experimental Development Tax Incentive: The Department of Finance will continue to engage with stakeholders on the next steps of the SR&ED program to ensure it is providing adequate support and improving the commercialization of intellectual property.

Transition to the green economy

  • Clean electricity investment tax credit: A 15% refundable credit to support non-emitting generation systems, storage and transmission.
  • Clean technology manufacturing: A 30% tax credit for new machinery and equipment used to manufacture or process key clean technologies and extract key critical minerals.
  • Clean hydrogen: Up to 40% tax credit for projects producing clean hydrogen.
  • Strategic Innovation Fund: A $500 million commitment over 10 years to support the development and application of clean technologies in Canada.
  • Smart Cities Challenge: The government will be launching a new round of the Smart Cities Challenge later this year, which will focus on using connected technologies, data, and innovative approaches to improve climate resiliency.

____________

Provincial budget highlights

The full provincial budget can be found here.

Innovation

  • Underserved entrepreneurs: Investing an additional $15 million over three years for the Racialized and Indigenous Supports for Entrepreneurs (RAISE) Grant Program that includes support for Indigenous, Black and other racialized people, as well as an additional $3 million in the Black Youth Action Plan
  • Innovation hubs:
    • Providing an additional $1 million per year for three years to Invest Ottawa, starting in 2023–24, to expand into a Regional Innovation Centre hub for Eastern Ontario.
    • Committing an additional $2 million in 2023–24 to Futurpreneur Canada.
    • Providing $4 million in 2023–24 to support the City of Brampton in attracting more entrepreneurs and business investment to help drive economic growth.

Skills development

  • Mitacs: Investing an additional $32.4 million over the next three years to support 6,500 high‐quality research internships through Mitacs.
  • Skills Development Fund: Providing $224 million in 2023–24 for a new capital stream of the Skills Development Fund to leverage private-sector expertise and expand training centres.

International talent

  • Ontario Immigrant Nominee Program: Enhancing the Ontario Immigrant Nominee Program with an additional $25 million over three years to attract more skilled workers, including in-demand professionals in the skilled trades, to the province.
  • Ontario Bridge Training Program: Expanding the Ontario Bridge Training Program with an additional $3 million in 2023–24 to help internationally trained immigrants find employment in their fields and get faster access to training and support towards a licence or certificate.

Manufacturing

  • Ontario-made tax credit: A 10% refundable Corporate Income Tax credit to help local manufacturers lower their costs, invest in workers, innovate and become more competitive.

Business savings for Ontario employers

  • Tax relief for small businesses: Improving competitiveness by planning to enable an estimated $8 billion in cost savings and support for some Ontario employers in 2023, with $3.6 billion going to small businesses.
    • This would provide Ontario’s small businesses with additional Ontario income tax relief of $265 million from 2022–23 to 2025–26.

Electric vehicle investments

  • Electric vehicles (EV): Attracting over $16 billion in investments by global automakers and suppliers of EV batteries and battery materials to position Ontario as a global leader in the EV supply chain.

Are you a founder trying to navigate the startup ecosystem? Learn more about programming DMZ offers here.

Announcing DMZ’s 2023 Women of the Year

At the DMZ, we’re constantly inspired by the incredible women driving innovation and progress in the Canadian tech industry. That’s why we’re proud to present 2023’s DMZ Women of the Year award, recognizing inspirational women who have made remarkable contributions to the tech ecosystem.

With over 800 nominations from around the country, this year’s honourees represent diverse industries and backgrounds. From go-getting startup founders to top-notch corporate leaders and non-profit trailblazers, this year’s lineup is a true reflection of the diversity and ingenuity of Canadian women in tech.

A heartfelt congratulations to all the nominees and winners for their outstanding achievements.

Join us in honouring DMZ’s 2023 Women of the Year:

DMZ’s Year in review: Coffee, capital and community

After an eventful 2022, the DMZ is taking a step back to appreciate all we’ve accomplished this year alongside our community and supporters — from onboarding startups to launching new programming and international expansion.

Scroll and reminisce with us!
Note: These are stats as of November 1, 2022.

Our coffee machine is one of the most popular amenities at the DMZ! It’s clearly a community favourite, with an estimated 10,438 coffees made in 2022.

Up, up, up, and away — startup fundraising numbers surged to a whopping $258,672,261 this year!


That’s right — six DMZ companies were acquired in 2022 (Sensibill, Gridcure, GrowthGenuis, InkBox, Fortuna, OnCall), and three acquisitions were made by DMZ companies: Singlekey acquired Naborly, Manzil acquired Muslim Will, and Daylight Automation (formerly known as FormHero) acquired Proof Data Technology.

Start spreading the news! In October 2022, The DMZ re-opened in New York City — a tech ecosystem valued at $147 billion — to continue empowering the next generation of global startups.

Let’s network! In 2022, the DMZ brought together over 1500 attendees in 40+ events in the tech ecosystem.

Our community had a ton of media traction over the past year. The DMZ had 2.39K+ features in the media, and our DMZ startups had an enormous media presence with 36k+ highlights.

Startups come and go at the DMZ, but they always leave an imprint in our community. This year, 357 startups graduated from DMZ programs, including Startup Certified (38 students), Basecamp (22 companies), NEP (27 companies), Launchpad (86 students), Incubator (8 companies), AMEX Blueprint (100 companies), Pre-Incubator (45 companies) and BIP Connections (31 companies).

The DMZ stays busy! This year, we ran programming for multiple existing programs: BIP Social Impact Stream fuelled by Unilever Canada, Black Innovation Connections with Dream Legacy Foundation, Launchpad for Entrepreneurs powered by Desjardins and AMEX Blueprint powered by the DMZ.

In addition, we housed the launch of the Newcomer Entrepreneurship Program (NEP) — a virtual ideation program sponsored by the Future Skills Centre and media sponsored by Canadian Business that helps Canadian newcomers develop startup fundamentals. We also partnered with Toronto-based venture capital firm GroundBreak Ventures to launch our PropTech stream as part of our incubator program to help high-potential PropTech startups transform the real estate landscape.

There’s a reason we’re known as a world-leading tech incubator. This year we received over 812 global applications. We’ve still got it.

What a year! Want to take part in 2023’s stats? Discover the DMZ and our programming here. Don’t forget to sign up for our newsletter to get the latest tech news, updates, and special offers.

2022 federal budget digest

Last week, the federal government unveiled their long-awaited budget for 2022, which outlines a number of commitments for the Canadian tech and innovation economy.

The first budget since the Liberal’s re-election last fall, the 2022 budget focuses on growing the Canadian economy while aiming to make everyday life more affordable. Working to reduce its projected deficit, a majority of the government’s new commitments are program-focused, rather than large cash injections. 

We thought we would help out our community by breaking down the budget to highlight what should be on your radar, and how it will impact the startup and innovation economy.

The full federal budget can be found here.

AN OVERVIEW: BIG TICKET COMMITMENTS

  • Canadian Innovation and Investment Agency: $1 billion over five years towards the creation of a new agency designed to invest in innovation, research, and development. 
  • Canada Growth Fund: A $15 billion growth fund to encourage private sector investment to meet net-zero climate goals and strengthen supply chains.
  • Intellectual property: $96.6 million over five years to build a world-class intellectual property regime, by building on previous investments.
  • Scientific Research and Experimental Development (SR&ED): A review of SR&ED to eliminate paperwork needed for the program for startups. 
  • Accelerator to increase housing supply: Accelerator fund to encourage municipal governments to zone for more housing over the next five years. 
  • Dental-care and pharmacare: Plans to cover the cost of dental care for lower income Canadians and plans to create a national pharmacare program. 

INNOVATION INVESTMENTS

A new Canada Growth Fund to encourage private sector investment to meet net-zero climate goals and strengthen supply chains.

  • $15 billion in public capital over five years designed to incentivize private-sector investment in emissions reduction, economic diversification and supply-chain projects. The new program will  run at arm’s length from the government. It will make investments in businesses in firms for equity stakes, loan them money or issue financing guarantees. 

A new Canadian Innovation and Investment Agency to invest in innovation, research, and development.

  • The new agency, modelled after programs in Finland and Israel, will operate independently and will be funded with $1-billion in new spending over five years. Moreover, the government will consult further with Canadian and global experts in finalizing the design and mandate of the new agency. Furthers details will be announced in the 2022 fall economic and fiscal update.

INTELLECTUAL PROPERTY

The government has committed more investment into Canada’s national IP initiatives, including:  

  • A new national lab-to-market platform to help graduate students and researchers take their work to market;
  • Investment for the CanExport program to help Canadian businesses secure their intellectual property in foreign markets;
  • A new survey to assess the government’s previous investments in science and research, and how knowledge created at post-secondary institutions generates commercial outcomes;
  • Expanding ExploreIP, Canada’s intellectual property marketplace, so that more public sector intellectual property is put to use helping Canadian businesses; and,
  • Expanding the Intellectual Property Legal Clinics Program, which will make it easier to access basic intellectual property services.

SR&ED REVIEW FOR STARTUPS

A review of the scientific research and experimental development (SR&ED) tax incentive, assessing whether it’s effective in encouraging R&D that benefits Canada will be done. Additionally, the government is considering instituting a patent-box regime to ensure ideas generated domestically turn into IP that stays here.

  • Startups have long complained about the amount of paperwork involved with accessing SR&ED, and the assessment could translate to startups receiving higher payouts from SR&ED, or at least less paperwork to complete. 

SUPERCLUSTERS REBRAND

The federal government is extending Canada’s Superclusters and is rebranding it to be called Canada’s Global Innovation Clusters. The budget proposes an additional $750 million into the program over six years. 

  • The Superclusters was originally created to focus on projects leveraging plant proteins, advanced manufacturing, AI and oceans. With the rebrand, the government hopes to see the Global Innovation Clusters play a role in greater projects, such as climate change.

TAX RATE EXTENSIONS FOR SMALL BUSINESSES

Taxable capital for small businesses is increasing from $15 million to $50 million. 

  • Currently, the government taxes small businesses at a reduced rate of 9% on the first $500,000 of taxable income. However, small businesses lose the reduced rate once they hit $15 million. The new budget plans to increase the taxable income limit to $50 million. 

SUPPORT FOR SMALL BUSINESSES IN HEALTH TECH 

$30 million was committed to expand the CAN Health Network, which is a national partnership comprised of leading Canadian health organizations that work to introduce new solutions into the health care system. 

  • The government hopes to expand the program nationally to Quebec, the territories, and Indigenous communities.
Are you a founder trying to navigate the startup ecosystem? Learn more about programming the DMZ offers here.

Third photo: piggybank.ca

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